to be seen in a couple days.
Sentiment: Strong Sell
11% interest, that's really junk. But it is secured. Once oil below $40 and last for a year, EXXI left no penny and no chance to re-organization.
I have no position at current and will re-enter when the oil keeps comfortable low.
JS has hedged oil and his company for loss.
Don't lie to yourselves. $90/b, how could EXXI still had a loss?
If Oil can't get recover in short time, how many quarters that EXXI could last?
Now, Has EXXI hedged oil price at $60? If not, how could EXXI survive at oil price of $40/b? If yes, how could EXXI make the profit at oil price of $60/b?
Another half year, all the shares would be changed to EXXIQ
They tried to say fine, but it is not fine. Otherwise they should keep $0.12/share divid. Paying $0.01 divid is the game. They only can keep you this kind of people holding the shares.